- Horseshoe Metals (HOR) has begun reverse circulation (RC) drilling at its Horseshoe Lights copper-gold project in Western Australia
- The program will include up to 15 holes targeting mineralisation across the Main Zone and Motters Zone, which have been subject to drilling work since the 1980s
- The company is also reviewing historical data from the North Dump area, with results to be announced later this month
- Non-Executive Director Kate Stoney says the drilling is another step forward in Horseshoe’s strategy to further prove up the namesake project into “one of Australia’s most exciting copper development opportunities”
- Company shares are up 7.69 per cent to 2.8 cents at 3:13 pm AEDT
Horseshoe Metals (HOR) has begun reverse circulation (RC) drilling at its Horseshoe Lights copper-gold project in Western Australia.
The company yesterday announced the RC program would include up to 15 holes for 2000 metres to test the northern strike extension of the Main Zone, including an interpreted northern plunge to the mineralisation. This area has been subject to drilling work since the 1980s
HOR said previous geological interpretation and magnetic data suggested the dolerite that cuts the northern end of the Motters Zone did not extend far enough west to intersect the Main Zone, and this will be tested with drilling
The company will also test mineralisation south along-strike from the late cross-cutting dolerite dyke and above the dolerite down-plunge to the south at the Motters Zone.
Non-Executive Director and CFO Kate Stoney said it was “exciting” to be recommencing drilling to redefine the potential scale and grade of the Horseshoe Lights mineralised system.
“This drill program has commenced on time and on budget, marking another step forward in our stated strategy to further prove up the Horseshoe Lights project into one of Australia’s most exciting copper development opportunities,” Ms Stoney said.
In addition, the company is reviewing historical data from the North Dump area with results to be reported later this month.
Horseshoe Metals also has plans to complete follow-up and infill drilling at the Southern Stockpile and the Oxide, Main, and Motters zones.
Company shares were up 7.69 per cent to 2.8 cents at 3:13 pm AEDT.